When the Market for a Network Good Is Contestable, Then

question 53

Multiple Choice

When the market for a network good is contestable, then:

• A) there is little competition.
• B) many firms operate and compete for consumers in the industry.
• C) it is hard for consumers to get locked into a bad outcome.
• D) monopoly firms always charge prices well above their average costs.

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Definitions:

Interruptions

Instances where a process is temporarily stopped or hindered by an external or internal event.

Informal Way

A manner of communication or behavior that is casual, relaxed, and not bound by formal rules or standards.

Behavioral Question

A query used in interviews that asks candidates to describe past behavior as an indicator of their future performance in similar situations.

Leadership

The art of motivating a group of people towards achieving a common goal.